Apple must acquire film production company as content “clock strikes midnight”

Apple needs to acquire a film production company or risks being left behind, according to analyst Dan Ives.

Speaking to CNBC, Ives suggested the tech giant should look into purchasing a production house such as A24, Sony Pictures or Lionsgate.

“If they’re not aggressive in M&A from a content perspective … this will be, in our opinion, the biggest mistake that [CEO Tim Cook] and Apple has made, because that’s the way that the services flywheel is going to work in terms of the install base,” said the Wedbush Securities equity research MD. “The clock has struck midnight for Apple in terms of content.”